Hungarywhich has no access to the sea, opposes these new sanctions since it depends on Russia’s oil through the Druzhba pipeline, which supplies 65% of its consumption.
The initial EU proposal included a special derogation for Hungary and Slovakia, until the end of 2023, but both countries considered the period insufficient and demanded at least four years, in a lawsuit joined by the Czech Republic. Sanctions can only be ordered unanimously by the 27 countries.
The solution that was examined today in Brussels consists of excluding Druzhba from the oil embargo to limit the sanctions on oil supplies by ships and trucks, according to unidentified bloc sources quoted by the AFP and Sputnik news agencies.
Two thirds of Russian oil supplies to the EU are transported by tanker ships and trucks and one third by this pipeline, according to AFP.
The embargo of deliveries by sea would imply the cessation of oil purchases within six months and derivative products at the end of the year.
The sanctions package also proposes the exclusion of the most important Russian bank, Sberkank (37% of the market), and two other establishments from the Swift international financial system, as well as an extension of the EU blacklist to some 60 personalities.
Another option that was considered is to postpone the adoption of the entire sanctions package while a solution is found for the supply of oil to Hungary, according to the sources.
The solutions presented today to the ambassadors of the EU member countries must have the endorsement of their governments, with the hope of obtaining an agreement before the start of the summit, tomorrow, at 4:00 p.m. (11:00 a.m. in Argentina).
Source: Ambito
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